First of three solution reviews to automate collections and boost cash flow for Quickbooks users. While Quickbooks provides plenty of data to help merchants identify outstanding accounts receivables, and then pursue collections, it’s lacking power in automating collections. Third party solutions fill this gap, and the efficiency and cost savings usually far exceed the cost of the services.
Most third party solutions have these in common:
- Payments occur outside Quickbooks, keeping the application out of scope for PA DSS certification
- PCI Compliant method to store credit cards
- The payment gateway manages any stored card data and or check data.
- Because Intuit Merchant Services does not allow any other payment gateways to be integrated, a new merchant account is required.
- ACH payments accepted
- Compatible with current versions Quickbooks Pro, Premier, Enterprise
- No double entry needed- transactions post back into Quickbooks
Our first solution includes a universal payment gateway, compatible with any merchant account, and Quickbooks integration plugin. It’s the most robust solution for omnichannel and business to business merchants.
Automated Collections features:
- Emailed invoice includes pre-filled payment object within the body; customer can pay with stored token in seconds
- Weekly reminder for unpaid invoices beginning 7 days after date first delivered (feature may vary by integration type and or product development)
- Includes customer portal to view and pay multiple invoices; invoices marked as paid.
- Automated reminders for customers to self-update expiring credit cards
What are the top three differentiators from other integrated payment solutions available?
- Does not require customer login to pay an invoice making it easy to forward and easy to remotely pay; minimizes issues related to employees out sick, out of office, and on vacation.
- Enterprise management and reporting for multiple companies and sales channels
- Interchange optimization, including level III processing, and least cost routing across all sales channels
Pricing for Quickbooks Automated Collections
- Free trial
- No new merchant account required
- Gateway billed monthly in arrears; contact for quote
- Quickbooks plugin is free
- Electronic Bill Presentment & Payment service is billed monthly in arrears
Where to order
Available exclusively through a few select authorized resellers. Contact Christine Speedy at 3D Merchant Services for more information or to order.